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Powerful Fib Based System - by DAZfx

  • #801
  • Aug 7, 2008 10:33am Aug 7, 2008 10:33am
Cheers ChowClown,

Much appreciate your reply

Heres to wishing you and every one lots of pips!


Cheers Nigel (DT)
  • #802
  • Aug 7, 2008 2:29pm Aug 7, 2008 2:29pm
Quote
Hi All,

Just logged on to find this set up from today finally hit its T1 target.

Gave me a 57pip gain


Take care all,

Nigel (DT)

Waoh! you have the right mental attitude and quality trader's mindset.
lesson for us all.

good work bro.
  • #803
  • Aug 7, 2008 2:45pm Aug 7, 2008 2:45pm
Evening Naijafx and all,

When I manage to spot a potential "good set up" I tend to set and forget.

Lets face it the stop is in place and the target is mapped out too, so I dont see any reason to mess with it any further.

Just my thoughts

Looking forward to tomorrow!

Cheers,

DT.
  • #804
  • Aug 7, 2008 3:58pm Aug 7, 2008 3:58pm
Hello everyone,

I have been following the discussions and have demo the strategy, it's awesome when the fib is drawn correctly and rules are adhere to. Naijafx, u seem to have this method under control, what's your percentages of win since Daz taught this strategy and do u trade it on the daily, or just 1H and 4H.

Gr8 trading and lots of pips to all.

Dejan
  • #805
  • Aug 7, 2008 4:36pm Aug 7, 2008 4:36pm
Quote
Hello everyone,

I have been following the discussions and have demo the strategy, it's awesome when the fib is drawn correctly and rules are adhere to. Naijafx, u seem to have this method under control, what's your percentages of win since Daz taught this strategy and do u trade it on the daily, or just 1H and 4H.

Gr8 trading and lots of pips to all.

Dejan

Hey Dejan, thanks for the compliments.
Well the system had 7wins and 1loss over 8days now.

it rocks at every time frame but you must get the trend right.

15mins trading window -> trade in the direction of hourly trend
1hr and 4hr trading windows -> trade in the direction of daily trend
daily trading windwo -> trade in the direction of weekly trend

Hope this answer your question?
  • #806
  • Aug 7, 2008 5:09pm Aug 7, 2008 5:09pm
To traders that have been calling for a view of this wonderful method on daily, attached is the daily charts displaying valid and invalid set-up as stated by daz rules.


Mazdaz is the specialist on this field. he has done more trades on daily than I do but we will signal alert once we get set-up on daily.

naijafx
Attached Image (click to enlarge)
Click to Enlarge Name: eu-daily.gif Size: 39 KB
  • #807
  • Aug 7, 2008 6:29pm Aug 7, 2008 6:29pm
i came back late yestreday to see what has happened that i missed some good set-ups. kudos to DT and pls share some pips with me,nothing is too small. Thanks. Nerry.
  • #808
  • Aug 7, 2008 9:33pm Aug 7, 2008 9:33pm
Hello, Really like this sytem.I really don't know this pair that well and the spread is wide..The aud/nzd may have a set up before too long or it could continue up.It did however break a daily trendline to the downside around 8/04. Take care and have a good weekend. Tex
  • #809
  • Aug 7, 2008 11:09pm Aug 7, 2008 11:09pm
Ok, I've done enough posting.
  • #810
  • Aug 8, 2008 3:12am Aug 8, 2008 3:12am
Hi!

Your system looks simple and powerfull, i like to attach some ideas

1., the power of the system multiplied by a big factor because nearly all cases on the chart you can see a forming cup and handle (or reverse cup and handle) when the forming CD line reached the point B, and as you take position at point C, you are overtaking the market, and getting early into position

2., as this is a discretional system, automatic backtesting is impossible

3., maybe for some beginners it's hard to find the correct AB impulsive waves, or the trend direction, don't wonder on this. When i was a beginner, it was hard to find the trend direction, currently i just blink one on the chart, and one on the higher timeframe, and i see the direction. so they need to practise more and more, if you can't find the correct AB line, or the correct trend direction, then you have to avoid trading, because your basic skills need to sharpen.

4., i like to find longer AB lines (longer means more bars), because on shorter lines the wick of the candle is very confusing, when it's breaking the fibo lines, and hard to decide to open position or not.
  • #811
  • Aug 8, 2008 4:48am Aug 8, 2008 4:48am
Quoting NerryE
i came back late yestreday to see what has happened that i missed some good set-ups. kudos to DT and pls share some pips with me,nothing is too small. Thanks. Nerry.
Good morning NerryE and all,

Nothing complicated to my approach, I just try to be particular in the impulsive A to B leg. I like to see a consistant climb/descent in the leg.

This has also been excellently pointed out by Naijafx re looking at alternate time frames and not trading against the higer time frames.

Also take particular notice of the use of the 5 sma with this system and dont enter trades on the wrong side of it.

Any questions please ask away


Cheers,

DT.
  • #812
  • Aug 8, 2008 5:04am Aug 8, 2008 5:04am
Quoting NerryE
i came back late yestreday to see what has happened that i missed some good set-ups. kudos to DT and pls share some pips with me,nothing is too small. Thanks. Nerry.
Again in reply NerryE,

See atttached chart, very late entry using the 5 sma for confirmation.

Dont try this at Home as I was trying to demonstrate what I was saying re the use of the 5 sma, fortunetlay I came out on top with this trade!

Naijafx sorry I didnt post this earlier as it was to help NerryE.

Cheers,

DT.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_usd.gif Size: 19 KB
  • #813
  • Aug 8, 2008 5:21am Aug 8, 2008 5:21am
Hi,

I have a question: do you hold your position until it reach your 1.target or stop loss or do you exit before it when the market is too slow a moving sideways? Thanks
  • #814
  • Aug 8, 2008 5:42am Aug 8, 2008 5:42am
Quoting xkuba
Hi,

I have a question: do you hold your position until it reach your 1.target or stop loss or do you exit before it when the market is too slow a moving sideways? Thanks

Hello xkuba,

Yes when ever I enter its a win/loss scenario based on judgement to enter.

Let it run is what I am saying.


Cheers DT
  • #815
  • Aug 8, 2008 7:06am Aug 8, 2008 7:06am
it's currently on usdjpy
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy20080808.jpg Size: 70 KB
  • #816
  • Aug 8, 2008 2:49pm Aug 8, 2008 2:49pm
What an eventful week!
wot a promising week we've had!
wot a brighter future ahead!
in the midst of confusing and contradicting methods
in the midst of heart-aching erratic market
in the midst of never friendly but promising market
a succuor appear in

DAZ METHOD.


Have a blissful weekend
God bless you all


To everybody that have been posting
chowclown
Double-Top
Nerry
Aad
Noel et al

My love for you all is unquantifiable. u r all friends i have never met nor seen but have your picture engraven in my heart.
I love you all

Mike
  • #817
  • Aug 8, 2008 3:19pm Aug 8, 2008 3:19pm
Quote
Hello xkuba,

Yes when ever I enter its a win/loss scenario based on judgement to enter.

Let it run is what I am saying.


Cheers DT

That's the right attitude DT
  • #818
  • Aug 9, 2008 6:02pm Aug 9, 2008 6:02pm
Quoting doubletop
Again in reply NerryE,

See atttached chart, very late entry using the 5 sma for confirmation.

Dont try this at Home as I was trying to demonstrate what I was saying re the use of the 5 sma, fortunetlay I came out on top with this trade!

Naijafx sorry I didnt post this earlier as it was to help NerryE.

Cheers,

DT.
. Hi DT, anyway thanks for that. Nerry.
  • #819
  • Aug 9, 2008 7:41pm Aug 9, 2008 7:41pm
Quoting Naijafx
What an eventful week!
wot a promising week we've had!
wot a brighter future ahead!
in the midst of confusing and contradicting methods
in the midst of heart-aching erratic market
in the midst of never friendly but promising market
a succuor appear in

DAZ METHOD.


Have a blissful weekend
God bless you all


To everybody that have been posting
chowclown
Double-Top
Nerry
Aad
Noel et al

My love for you all is unquantifiable. u r all friends i have never met nor seen but have your picture engraven in my heart.
I love you all

Mike
Hi Mike, I must confess too to the above beautiful comments that indeed "in the midst of never friendly but promising market a succuor appears in DAZ METHOD.God Bless. Nerry.
  • #820
  • Aug 10, 2008 12:12pm Aug 10, 2008 12:12pm
Yeah, this system looks very powerful. I've been trading Fibs for a while but on the bigger AB swings. I like Daz's method with the impulse waves - seems to be very accurate with tight stops.
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